Delinquencies of commercial real-estate loans bundled into collateralized debt obligations rose again in September, Fitch Ratings said Friday.

Commercial real estate has suffered mightily the past two years, with falling rents and occupancy rates. But there have been signs of stabilization in some quarters.

Loan delinquencies in CDOs for September were 12.9%, up from 12.1% in August. Fitch director Stacey McGovern said 70% of all new delinquencies last month were loans secured by office and multifamily properties.

Commercial real estate CDO asset managers reported more than $70 million in realized losses from the disposal of distressed assets in September, up from $68 million in August. Total losses in the commercial real-estate CDO universe have exceeded $1.7 billion.

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